Elon Musk remains the richest person in the world, with an estimated net worth of $342 billion, despite having to juggle duties at the US Department of Government Efficiency (DOGE).
Musk's wealth has risen by a staggering $147 billion over the last year, driven by a phenomenal performance from SpaceX and his artificial intelligence business, xAI, as per a Forbes report.
In spite of stock market fluctuations and demonstrations, Musk's electric car firm, Tesla, is better off than it was twelve months ago. The resulting surge in finances enabled him to take back the lead from LVMH boss Bernard Arnault a year ago and expand his lead over the second-wealthiest person, Meta boss Mark Zuckerberg, to $126 billion. Zuckerberg has an estimated net value of $216 billion.
Meanwhile, Donald Trump, the former U.S. President, has experienced one of the greatest financial recoveries among the world's billionaires. His net value increased by more than double over the last year, rising from $2.3 billion to around $5.1 billion. The sudden increase was fueled by his entry into cryptocurrency and the public offering of his Trump Media & Technology Group.
The United States still tops the world in wealth concentration with a record 902 billionaires, more than any other nation. China ranks second with 516 billionaires, including Hong Kong-based billionaires, followed by India with 205 billionaires.
Among the world's richest people, Amazon's Jeff Bezos comes in third with $215 billion, while Oracle co-founder Larry Ellison places fourth with $192 billion. Bernard Arnault, at one point the undisputed king of the list, has dropped to fifth place with $178 billion—his lowest rank since 2017. His fall is blamed on a decline in the share price of his luxury brand empire, says the report.
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